Betsson Had a Profitable 2017

Swedish gaming group Betsson has posted their 2017 financial results, noting that revenue for the period grew 12% from 2016.

Key financial indicators for the period ending December 31st, 2017 were:

  • Revenues of SEK4.7 billion ($584.9 million), up 12% from 2016
  • Gross Profit up 11% to SEK3.42 billion
  • Operating income down 7% to SEK 882.2 million
  • Net income down 10% to SEK786.5 million
  • Deposits from customers up 13% to SEK16.31 billion
  • Earnings per share down 10% to SEK5.68

Speaking about his company's performance Betsson CEO Pontus Lindwall noted: "We have identified and started to implement a number of improvements on both the product and the marketing side.

"The launch of the new front-end system for casino and sportsbook on desktop and apps should be completed during 2018.

"Betsson will focus marketing spend on key markets with the ambition to achieve a higher return on investment; as an example, we have scaled back on marketing volumes for the UK.

"During the first quarter 2018, Betsson restructured the operations; the new flatter organisation will enable the Company to work more efficiently."

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bgsharpe
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20 February 2018 - 4:35pm
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Yeah, obviously a great year for Betsoon and why not, the site is one of the finest out there so no wonder they're doing well, well done to them.